Mini Russell holding quite a narrow range this week of 1039-1073. *This market is now ready for a recovery.* Be ready to go with a break higher today
Mini Russell 2000 December contract Daily Forecast - 16 October 2014Mini Russell holding quite a narrow range this week of 1039-1073. *This market is now ready for a recovery.* Be ready to go with a break higher today using 1075/73 as support & look for a move towards 1087 then 1095/96. Although the outlook is now positive there is a good chance of a high for the day here. Any shorts need stops above 1102. Be ready to go with a break higher to target 1106/07 then resistance at 1113/15.
Failure to beat strong resistance at 1073/75 keeps the market in a short term range & risks a slide to 1057/56 for a buying opportunity with stops below 1050. If we continue lower look for a buying opportunity at 1040/39 with stops below 1033. An unexpected break lower targets 1025 then 1016/15 for a buying opportunity.
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